Personal Financial Literacy Semester Exam

Front

If you use direct deposit, you will most likely have

Back

your paycheck deposited directly in your bank account

Front

What is the BEST method for all people to manage their money? Options: get a high paying job, avoid paying their bills, put money in a saving account.

Back

create a personal budget

Front

Which of these is LEAST LIKELY to determine credit worthiness? Income, Personal health history, Credit score, Length of Credit

Back

Personal health history

Front

When a person agrees to a regular, fixed payment of wages over a period of time, he/she is most likely earning a

Back

salary

Front

The basic economic condition that exists when unlimited wants exceed limited productive resources is called

Back

scarcity

Front

What is the best way to avoid credit card fees associated with using a credit card?

Back

pay off the total balance on time each month

Front

Molly is checking out at the grocery store and is using a card to pay for her groceries. This card will withdrawal money directly from her checking account once she swipes her card. Which payment method is Molly using?

Back

debit

Front

Compound interest is

Back

interest on savings and earned interest

Front

What is a major advantage of investing in a mutual fund?

Back

risk is spread out

Front

Which person would most likely qualify for a car loan with the best (lowest) interest rate? Options: Jenny's Credit Score: 525, Mark's Credit Score: 630, Bilal's Credit Score: 720, Hank's Credit Score: 735

Back

Hank's Credit Score: 735